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PODCAST

Profit First for Real Estate Investors with David Richter

Real estate investors work hard, make great money, and still feel broke, but it’s not your fault. Without a simple system, cash slips through the cracks and every next deal feels like a lifeline instead of a step toward freedom.That’s why David Richter, author of Profit First for Real Estate Investors with a foreword by Profit First founder Mike Michalowicz, created this podcast to reveal how real investors flipped the script and started paying themselves first. Each episode shares honest stories

business investing

All Episodes

16:12

Profit First Chat: Which KPIs Really Matter for a...

Profit First for Real Estate Investors with David... ·

2026/10/09

David Richter of Simple CFO opens this solo episode with a hard truth: most investors obsess over the wrong KPIs, and it's killing their profit and their cash. Deal volume, revenue, and door count feel good to brag about at a meetup, but they're vanity metrics that don't tell you whether you actually made any money. David runs through the key performance indicators that genuinely matter, from net profit margin and cash flow per deal to cost per acquisition, loan to value, and reserve fund hea...

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46:41

CFO Case Files: The Investor Sitting on Millions in...

Profit First for Real Estate Investors with David... ·

2026/10/07

In this Simple CFO Case Files episode, Christina Gutierrez pulls back the curtain with CFO Aaron Jurski, who's spent nearly a decade as a CFO and brings a background as a principal and investor in commercial real estate and private equity. Aaron is the one who gets the non-standard clients, the contractors, developers, and complex real estate operators that don't fit the usual mold. Aaron walks through a string of real client stories: a 60-something investor with $40 to $50 million in retail ...

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32:01

Leon Barnes: Why There Are No Overnight Successes in...

Profit First for Real Estate Investors with David... ·

2026/10/05

We're resurfacing one of David's favorite conversations from the archives: his episode with Leon Barnes, a leader at the Collective Genius and a real estate investor who built his rental portfolio the smart way. It's a message that hits just as hard today as when it first ran. Leon's path is anything but typical. A former broadcast journalism hopeful who spent 11 years in corporate advertising sales, he got into real estate running operations for a flipping and rental business before building...

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8:06

Profit First Chat: The Financial Systems That...

Profit First for Real Estate Investors with David... ·

2026/10/02

David Richter of Simple CFO opens this solo episode with a question that reframes everything: is your business stressful, or is it the financial systems you have in place? Most owners pour their energy into sales, marketing, and operations while the financial side sits on the back burner, and that's exactly where the stress comes from. David breaks a business down to its four basic parts and makes the case that a system for your cash is what separates a real business from a hustle. He walks t...

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17:59

David & Christina: Why You Shouldn't Master Your Own...

Profit First for Real Estate Investors with David... ·

2026/09/30

In this Simple CFO Case Files episode, Christina Gutierrez takes the lead and pulls back the curtain on how she and David Richter actually work together, and why their visionary-integrator dynamic is the whole point. Built around the "Who Not How" concept, this one is about the power of handing off what you're not built to do. David is the empathy-driven, sales-and-marketing why guy. Christina is the analytical, strategic integrator who already has your results mapped out on a spreadsheet bef...

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36:54

Megan Huber: Why Client Success Is a Profit Center,...

Profit First for Real Estate Investors with David... ·

2026/09/28

Megan Huber has spent five years teaching client success and far longer doing the role, and she comes on to make the case for the most overlooked profit center in a real estate business. Most investors obsess over stuffing more leads into the top of the funnel while a mountain of money leaks out the bottom, from the customers they already have. Megan breaks down why client success is a strategic role, not glorified customer service, and how it quietly oversees four of the five types of sales ...

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11:13

Profit First Chat: Using Business Cash Flow to Build...

Profit First for Real Estate Investors with David... ·

2026/09/25

David Richter of Simple CFO opens this solo episode with a reframe every investor needs: your business should fund your wealth, not drain it. Too many owners build a cash-eating monster that only ever produces a paycheck or gets them out of debt, never the long-term wealth they started the business for. This is one of David's more advanced episodes, built for owners who already have Profit First in place and are ready for the next level. He walks through three strategies, taking a real distri...

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25:07

CFO Case Files: Making $300K a Year With Empty Bank...

Profit First for Real Estate Investors with David... ·

2026/09/23

In this Simple CFO Case Files episode, Christina Gutierrez sits down again with CFO Michael Glaspie to break open a case that starts with the most common story they hear: a young wholesaler making $300,000 a year top line with bone-dry bank accounts. He could see the money coming in but couldn't tell his financials left from right, and he was beyond stressed. Michael walks through how he diagnosed three root problems, employees, marketing, and profit margin, using lead-versus-lag thinking to ...

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35:06

Brett McCollum: How This Investor Lost Over $1...

Profit First for Real Estate Investors with David... ·

2026/09/21

Brett McCollum ran his own investment operation for a decade, did hundreds of deals, and thought he'd made it, until back-to-back contractor issues and a market shift wiped out over $1 million in a little over a year and took his business nearly to zero. In this raw and honest episode, he shares what actually pulled him out, and it's not what most people would guess. Now leading REI growth at PropertyRadar and hosting the On the Clock podcast, Brett opens up about reacting instead of respondi...

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9:55

Profit First Chat: How to Manage Credit, Debt, &...

Profit First for Real Estate Investors with David... ·

2026/09/18

David Richter of Simple CFO opens this solo episode with a line every investor should tattoo somewhere: debt isn't dangerous, but debt without a plan is deadly. In real estate you're structuring loans and terms daily, so knowing the difference between good and bad leverage is survival. David breaks down the full spectrum of debt an investor deals with, from good leverage like fix-and-flip and buy-and-hold loans, to the middle ground of bridge loans, to the bad leverage of revolving credit car...

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24:17

David & Christina: The Number One Factor in Keeping...

Profit First for Real Estate Investors with David... ·

2026/09/16

In this Simple CFO Case Files episode, David Richter and Christina Gutierrez pull back the curtain on what they call the number one factor in keeping more money: the relationship between an owner and the right financial partner. They walk through exactly what happens from the first discovery call to being fully onboarded with a CFO who actually fits. David and Christina cover the diagnostic first conversation that figures out whether you need a bookkeeper, a CPA, or a high-level CFO, the inte...

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40:51

Benmont Locker: How to Spend $250K a Month on...

Profit First for Real Estate Investors with David... ·

2026/09/15

Benmont Locker scaled his real estate operations to $250,000 a month in ad spend, but he didn't start there. In this episode the founder of RAMP, a sales-team training community for real estate investors, breaks down exactly how he ramped up with confidence, and why that confidence comes from data and a sales team he trusts, not from having a pile of cash. Ben is a quote machine here ("morale comes from profit," "hope is a terrible investor drug"), but the substance runs deep. He and David co...

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9:45

Profit First Chat: How to Use Profit First to...

Profit First for Real Estate Investors with David... ·

2026/09/11

David Richter, author of Profit First for Real Estate Investing, delivers a back-to-basics whiteboard walkthrough of the entire Profit First system in this solo episode. If you've heard the term thrown around but never understood the actual mechanics, this is the overview that makes it click. David breaks down why Profit First is just the pay-yourself-first principle from Rich Dad Poor Dad and The Richest Man in Babylon with a real system behind it, and then draws out that system account by a...

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33:00

CFO Case Files: How to Actually Exit Your Real Estate...

Profit First for Real Estate Investors with David... ·

2026/09/09

In this Simple CFO Case Files episode, Christina Gutierrez sits down again with CFO Lee Vlcek to tackle a question most owners never plan for: how do you actually exit your business? Whether you want to sell, pass it to family, or just step back into a passive role, real estate can be a tough business to exit, and the prep work starts years before the handoff. Lee walks through two very different case studies, a father transitioning a decades-old business to his son and an owner preparing a p...

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37:40

Caleb Luketic: Cash Flow vs Profit: The...

Profit First for Real Estate Investors with David... ·

2026/09/07

Caleb Luketic returns to the show for a third-act update on one of the most dramatic turnarounds we've covered. A real estate investor and marketer who once lost around $650,000 when a project manager he'd handed full control mismanaged a portfolio of flips, Caleb previously shared how he clawed back and paid off over $500,000. This episode picks up after the comeback. Caleb walks through how he shifted focus to building note equity, set a goal of over $1 million in equity, and hit it almost ...

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8:37

Profit First Chat: Using Dashboards to Monitor Rehab...

Profit First for Real Estate Investors with David... ·

2026/09/04

David Richter of Simple CFO opens this solo episode with a warning every flipper needs to hear: your rehab budget is probably lying to you unless you're tracking actual versus planned on every deal. He calls budget overruns the number one silent killer of fix-and-flip businesses, except it's not that silent, because it kills loudly when you're bleeding $10,000 a deal. This is a tactical walkthrough of how to set up your balance sheet to see exactly what you're all into a property at any momen...

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18:25

David & Christina: The Financial Dashboard That Puts...

Profit First for Real Estate Investors with David... ·

2026/09/02

In this Simple CFO Case Files episode, David Richter and his business partner Christina Gutierrez unpack why "knowledge is power" hits different once you're staring at a live financial dashboard. The title comes from a real client who told David that the phrase never made more sense than the moment he sat in front of his numbers and realized he was telling them what to do, not the other way around. David and Christina walk through the tools they run inside their own business, EOS for operatio...

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35:45

Brandon Bateman: The 4 Marketing KPIs That Matter...

Profit First for Real Estate Investors with David... ·

2026/08/31

Brandon Bateman of Bateman Collective has overseen more than $100 million in digital ad spend for the real estate investing community, and he comes on to hand investors the exact numbers they should track to know if their marketing is actually working. As David puts it, Brandon helps people make money while Simple CFO helps them keep it, the yin to the yang. This is an action-packed, notes-out episode. Brandon breaks down why underfunding a marketing channel is the worst mistake you can make,...

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8:58

Profit First Chat: How to Build a Financial Culture...

Profit First for Real Estate Investors with David... ·

2026/08/28

David Richter of Simple CFO opens this solo episode with a line worth sitting with: the most successful and profitable companies aren't the loudest, they're the most aligned. He unpacks how an owner's financial chaos doesn't stay contained, it ripples out to every person on the team. Getting vulnerable about his own early 20s, when he was the guy at the meetup bragging about 25 deals a month while privately struggling to pay everyone, David lays out how to build a company where everyone under...

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40:24

CFO Case Files: Business Debt vs Personal Debt: Why...

Profit First for Real Estate Investors with David... ·

2026/08/26

In this Simple CFO Case Files episode, Christina Gutierrez sits down with CFO Michael Hansen, one of the earliest team members who joined right as David Richter's book launched, when Simple CFO had just 13 or 14 clients. Based in Oregon and deeply operations-focused, Michael brings a perspective most finance people don't: the conviction that most money problems are actually operational problems showing up in the bank account. Michael walks through a real client turnaround, a husband-and-wife ...

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